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Appliance Industry Review and Outlook 2011: Latin America
UBM Canon, May 2011, Pages: 36
The recent global economic crisis did not inflict major trauma on most Latin American economies and the region is experiencing growth rates well above some developed, higher-income economies. Latin America may offer the single-largest geographic collection of high-potential growth markets for the major appliance industry. Brazil is the leading economic power in South America and has the strongest potential as a growing appliance market. Brazil's GDP of roughly $2,194 trillion is the highest in Latin America. Brazil's gross expenditure on R&D is about 1.1% of GDP.
During a recent 10-year period, high-technology manufacturing exports grew at an average annual rate of 16%. More potential lies in Brazil with the expected growth of the middle class, anticipated to reach 111 million by 2014. Whirpool Corporation is the world's largest appliance OEM with 25% of its overall sales in 2010 from the Latin American market, up 6% from 2009. Principal products for the Latin American markets include washing machines and dryers, refrigeration appliances, countertop appliances, dishwashers, microwave ovens, cooking appliances and room air-conditioners. Whirpool's full-year 2010 Latin American net sales were up 26.7% from 2009. With Whirpool's Latin America headquarters located in Brazil, full-year 2011 Brazilian appliance shipments are anticipated to increase 5-10%. Latin America accounted for 26% of Electrolux sales in 2010.
The strong demand for appliances in the fourth quarter of 2010 helped bolster full-year sales. Electrolux has refrigerator, laundry appliance, and vacuum cleaner manufacturing in Juarez, Mexico. Electrolux recently moved increased production of washing machines from Webster City, Iowa, to the plant in Juarez.
What You Will Find In This Report:
- Latin America appliance industry overview
- Latin America appliance OEM review
- Various statistics for the Latin America appliance industry, including import and export trade value and trade quantity for select countries
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